Fixed deposit

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Guest

Guest (Querist)

18 January 2012 what is Spectrum Fixed Deposit scheme?? Can i claim deduction under 80c for such deposit??

U S Sharma

U S Sharma (Expert)
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18 January 2012 http://www.pnbindia.in/en/ui/SpectrumFixedDepositScheme.aspx

these deposits does not qualify under sec 80C

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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18 January 2012 Deduction under section 80C (2)(xxi) will be allowed if the fixed deposit is covered under "Bank Term deposit Scheme,2006". Therefore, the depositor has to ascertain the scheme before depositing money to avail the benefit of the referred section.

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